Taxation.
History.
After the devastation of World War One, between 1917-1926 the UK government introduced the "excess profits duty" (tax) of 80% of profits above "pre-war standard profits".
Today, when grotesque profits are being made by big business out of the (so-called) "cost of living crisis", surely it's time for a similar period of excess profit tax?
Surely, it's big businesses "duty" to help us all out in this time of crisis?
Or is this only a "crisis" for the poor?
I won't hold my breath.
#WindfallTax #profiteering #capitalism #BigBusiness #tax #ExcessProfitsTax #profiteering #CostOfLivingCrisis #uk #ukPolitics
#CdnPoli #Inflation #FoodInsecurity #CorporateGreed #Loblaws #ExcessProfitsTax
Who determines excess, as profit is very flexible & can easily disappear .The sacrilege that worked and is proven is simple price controls and no accounting tricks can change that so easily . The simple fact is inflation is not a priority for anybody but the very poor that are ignored
This week's inflation figures seem like a cause for optimism. But 5.9 per cent inflation is still high and groceries are up another 11.4 per cent. The Bank of Canada governor Tiff Macklem has warned that high inflation acts as camouflage for further unjustified price hikes.
@badtux @JessTheUnstill @doppelgrau
(2/n)
...the #food and #energy sectors).
As trickle-down clearly could never work, it is high time to finally level the playing field for the people.
A #WealthTax, a steep #CarbonTax, in particular for private trips to space, and an #ExcessProfitsTax / #WindfallProfitTax / #WindfallTax of at least 50% would go a long way to pay for a state-of-the-art #PublicTransport and #HealthSystem...
Larry Neufeld
King Mob
Pat
HistoPol (#HP) 🏴 🇺🇸 🏴
Chris Wellens